Investment platform Primary Bid gets £2m funding
London-based investment platform Primary Bid has closed a £2 million investment round led by funds managed by Lombard Odier, family offices and a series of angel investors.
The proceeds will be used for European expansion, as the firm wants to offer retail investors opportunities to “buy shares in quoted companies across the Eurozone at discounted rates”.
Anand Sambasivan, co-founder and CEO of Primary Bid, says: “Whether a publicly listed company is issuing new equity or the government is selling down its holdings, we believe retail investors deserve the same access as institutional investors. This vision is very much in line with the European Capital Markets Union legislation, which aims to further integrate capital markets across EU states.”
The company has been around for three years and says to date, more than £56 million has been sourced via its platform.
The service is free of charge for investors, regardless of the size of their investment. Primary Bid explains that it receives a percentage fee from the companies it raises for.